Dangote Cement suspends proposed London listing

Dangote Cement Plc has put its proposed listing on the London Stock Exchange on hold, citing current market conditions and the company’s strategic priorities.

The company disclosed this in a regulatory filing signed by Edward Imoedemhe, the company secretary, following a meeting of its board of directors on Tuesday.

In May, Dangote Cement announced it was in early talks over a potential London listing, a move that would help widen its access to overseas investors and capital.

The company later, in July, explained that the faster and more practical listing process in the United Kingdom influenced its preference for London over Dubai for the secondary listing.

On Tuesday, the cement producer said it will not proceed with the secondary listing, noting that its shares remain listed on the Nigerian Exchange Group, and that the decision will not affect the company’s operations.

“The Company’s ordinary shares remain listed on the NGX, and this decision does not in any way affect the Company’s operations or business plans,” Dangote Cement added.

READ ALSO: Dangote Cement’s nine-month profit jumps 31% as revenue hits N3.8 trillion

The company said it will remain focused on delivering sustainable value to its shareholders and building on its strong market position.

Dangote Cement is majority-owned by Africa’s richest man, Aliko Dangote, who launched the continent’s largest-ever initial public offering in September for his oil refinery.

Dangote Cement, with a production capacity of 55 million tonnes per annum, has a footprint in 11 African countries, including Cameroon, Ethiopia, Zambia, Tanzania, and Côte d’Ivoire, among others.

The corporation’s nine-month profit in 2026 jumped 31 per cent, while its revenue hit N3.8 trillion, boosted by improved revenue from cement and clinker sales.